The Lucknow bench of Allahabad High Court on Friday granted an eight-week bail with certain conditions to jailed Rotomac chairman Vikram Kothari.
The bail was granted by the bench of Justice A.R. Masoodi in view of the frail health of the Kanpur-based businessman, who has been accused of fraud and defaulting on loan repayment worth millions.
Sources said Kothari needs "a surgical procedure".
The high court has, however, set conditions like depositing of the passport and providing his location details. The court also directed him to surrender after eight weeks and asked to submit an affidavit to this effect.
The court had earlier rejected his bail application on November 30 last year.
A senior Bank of Baroda official had on February 18, 2018 filed a complaint with the Central Bureau of Investigation against Vikram Kothari, his wife Sadhna Kothari and son Rahul Kothari for defrauding them and of hatching a criminal conspiracy to fool banks like the Oriental Bank of Commerce, Bank of Baroda, Allahabad Bank, Bank of India, Bank of Maharashtra, Union Bank of India and Indian Overseas Bank.
Rahul Kothari was granted bail on November 30.
( 199 Words)